OPEC’s exports to U.S drops to 1mb/d in January

08 February 2019, Sweetcrude, Lagos — The United States is gradually cutting down on oil imports from OPEC and its partners, as the country’s intake dropped to approximately 1 million barrels per day in January, according to data from cargo-tracking and intelligence company Kpler.

The U.S. is now world’s highest crude oil producer, edging out Russia and Saudi Arabia.

Crude shipments to the U.S. from the OPEC nations fell to 1.41 million barrels a day in January, the lowest in five years.

Reports said fall in imports by Iraq and deep output cuts by Saudi Arabia fueled the decline.

The U.S. has also refused to take in Venezuela’s oil, as the latter’s export to the U.S. dropped by nearly 30 percent. Nearly 7.6 million barrels of Venezuelan crude is floating in the Gulf of Mexico, according to Kpler.